The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1887-12-07
CONDITION OF THE MARKETS
Heavy Selling Causes a Decline in the
Prices Of Grain and Provisions.
and All Undergo Reduction-A Reaction
Follows, but Traders Are Cautious.
MONEY, BONDS AND STOCKS.

less Activity In New York, Accompanied by
Lower Figures aud q Heavy Closing.
NEW YORK, Dec. 6.-Money on call was
easy n TO 5 per cent, the last loan being
made at 5. closing offered at per cent.
Prime mercantile paper, 6053 per cent.
Sterling exchange was steady at s48l4 /
for sixty-dsy bills, and 81. s4a for demand.
The total sales OF stocks to-day were 263, 204
shares. including the following: Delaware, Lack
swanna d Western. 23520; Erie, Is $50; Lake
Shore, 11,025; Louisville 6 Nashville, 1912;
Missouri Pacific. 1855; Northwestern, 5000;
Pacific Mail, 1915; Reading, 44450; ST. Paul.
1886 Union Pacific, 27.76o Western Union.
l0606
The stock market less active to-day.
The heavy sales in London caused decline
there, which was taken advantage of by the
bears" and traders who are ranged on that
side At present, to hammer the market here.
and though there q good de mand for all
the active specialties, and the general temper
of the room was conserva,iveiy bulIish, the
pressure in the afternoon became too great for
the limited demand. There was a good borrow
ing demand for stocks OF all kinds, and the
short" interest is again believed TO be very
large The banner weak stocks were Union
Pacific and Jersey Central. though all the Lon
don favorltes were prominent in the decline.
S.. Paul was also pressed for sale, and it was
closely followed by Union Pacific, Reading and
Laekawanna, though the latter was very we'll
held. considering its late marked weak ness. The
Dnlv exceptions to the rule were the Quicksilver
Jtoeks, Wheeling & Lake Erie. and San Fran
cisco preferred, all of which closed with q small
advance. The market opened heavy to weak
. moderate business, with prices ge nerally of
from 20 per cent. from the final figures of
last evening. but the good demand caused
fractional reaction in the general list. while
Wheeling e Lake Erie rose II DER cent This
demand Stacked off, however. and the
steady pressure sagged the list off again,
though the transactions were. after ehe frat
hour, on a very limited scale. Vigorous
dashes were made at the list just after noon,
and again at 2 P NJ, which brought it down to
the lowest figures at about delivery hour. Union
Pacific and Jersey Central were most conspicu
In the raid though the latter was very
quiet. A slight recovery was nj de in the last
few min utes, but the close Was heavy At or near
the lowest prices reached. Kansas & Texas lost
Il; Union Pacf c, IL: Jersey Central. lg; ST.
Pacific and Norfolk & Western preferred, II
each; Louisville & Nashville, per cent; Quick
silver rose Il
Railroad bonds were dull and, as o rule, firm,
though q feature was the weakness in the Kan
sas Texas issues and Fort Worth & Denver
"hrsts. Sales 1858, 900. Chesapeake & Ohio. series
A. rose 8, to 96 Louisville. New Albany e Chi.
csRo frsts, 2, to lis; St Paul & Northern Pa
cfc sizes, 2, to 116; Kansas 81 Texas skies lost
81, TO "a; the iv-s, 81, to 631; Mexican Central
tours. 2, TO 6S5. and Toledo, Ann Arbor & Grand
Trunk frsts, 2, to 100.
Government bonds were dull and heavy to
weak.
State bonds were dull and steady. Closing